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Petrobras and Cameron Sign a Subsea Aftermarket Service Agreement
HOUSTON, Sept. 6, 2011 /PRNewswire/ -- Cameron (NYSE: CAM) announced today that it has renewed an agreement with Petrobras for the supply of aftermarket services and support for their developments offshore Brazil. This agreement is a continuation to the CAMSERV™ aftermarket services contract previously signed in 2007 and is expected to generate more than $150 million in revenue to Cameron over the next three years.
Cameron will manage the agreement from its service center in Macae which is undergoing an extensive capital expansion program. The facility will support Petrobras operations with inspection, maintenance, repair and remanufacturing, storage and offshore installation services.
"We are pleased to continue our work with Petrobras as part of our worldwide commitment to CAMSERV aftermarket services, particularly in the expanding Brazilian market", said Jack Moore, Cameron's Chairman and CEO.
Cameron (NYSE: CAM) is a leading provider of flow equipment products, systems and services to worldwide oil, gas and process industries
Website: www.c-a-m.com
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